Percentage of Apartment Units Built Between 1980-2019

North Carolina – 74% of units built since 1980

Virginia – 60% units built since 1980

Ohio – 42% units built since 1980

Pennsylvania – 36% units built since 1980

New York – 21% units built since 1980

In comparison to other states, the majority of North Carolina apartment units have been built within the last 40 years. While newer apartments demand higher rents they are also more energy efficient, better constructed, more environmentally friendly and considerably safer from fires/natural disasters.

$47.7 Million Contributed Daily to the Economy

The apartment growth in North Carolina is an overall benefit. While only 9% of the state’s population live in an apartment (nationwide 12%), the industry has an economic impact of $17.4b annually which equates to a $47.7m daily. The high density nature of apartment housing also creates a lower cost burden to municipalities when providing city and county services.